Independence Realty Trust, Inc. (NYSE:IRT) Shares Purchased by HM Payson & Co.

HM Payson & Co. grew its holdings in shares of Independence Realty Trust, Inc. (NYSE:IRT) by 119.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,978 shares of the real estate investment trust’s stock after purchasing an additional 2,168 shares during the period. HM Payson & Co.’s holdings in Independence Realty Trust were worth $79,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in the business. Raymond James Financial Inc. bought a new position in shares of Independence Realty Trust during the 4th quarter valued at about $12,105,000. Arizona State Retirement System boosted its position in shares of Independence Realty Trust by 3.5% during the 4th quarter. Arizona State Retirement System now owns 67,050 shares of the real estate investment trust’s stock valued at $1,330,000 after purchasing an additional 2,240 shares in the last quarter. Proficio Capital Partners LLC bought a new position in shares of Independence Realty Trust during the 4th quarter valued at about $204,000. Cbre Investment Management Listed Real Assets LLC boosted its position in shares of Independence Realty Trust by 5.9% during the 4th quarter. Cbre Investment Management Listed Real Assets LLC now owns 1,015,292 shares of the real estate investment trust’s stock valued at $20,143,000 after purchasing an additional 56,923 shares in the last quarter. Finally, Atria Investments Inc boosted its position in shares of Independence Realty Trust by 19.1% during the 4th quarter. Atria Investments Inc now owns 40,176 shares of the real estate investment trust’s stock valued at $797,000 after purchasing an additional 6,445 shares in the last quarter. Institutional investors own 88.25% of the company’s stock.

Independence Realty Trust Price Performance

Shares of IRT opened at $20.99 on Monday. Independence Realty Trust, Inc. has a one year low of $15.23 and a one year high of $22.26. The company has a 50-day moving average of $19.84 and a two-hundred day moving average of $20.25. The stock has a market cap of $4.85 billion, a price-to-earnings ratio of 116.62, a PEG ratio of 2.91 and a beta of 1.19.

Independence Realty Trust (NYSE:IRT) last posted its quarterly earnings results on Wednesday, February 12th. The real estate investment trust reported $0.32 EPS for the quarter, topping the consensus estimate of $0.08 by $0.24. Independence Realty Trust had a net margin of 6.15% and a return on equity of 1.11%. Analysts anticipate that Independence Realty Trust, Inc. will post 1.19 earnings per share for the current year.

Independence Realty Trust Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, January 17th. Investors of record on Tuesday, December 31st were issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 3.05%. The ex-dividend date was Tuesday, December 31st. Independence Realty Trust’s dividend payout ratio is currently 355.56%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on IRT shares. JMP Securities restated a “market outperform” rating and set a $22.00 price objective on shares of Independence Realty Trust in a research report on Tuesday, February 11th. Barclays decreased their target price on shares of Independence Realty Trust from $21.00 to $20.00 and set an “equal weight” rating for the company in a report on Wednesday, February 19th. Finally, BMO Capital Markets upgraded shares of Independence Realty Trust from an “underperform” rating to a “market perform” rating and raised their target price for the stock from $19.00 to $21.00 in a report on Friday, November 15th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $21.33.

Independence Realty Trust Profile

Independence Realty Trust, Inc (NYSE: IRT) is a real estate investment trust that owns and operates multifamily communities, across non-gateway U.S. markets including Atlanta, GA, Dallas, TX, Denver, CO, Columbus, OH, Indianapolis, IN, Raleigh-Durham, NC, Oklahoma City, OK, Nashville, TN, Houston, TX, and Tampa, FL.